Apple Inc. (NASDAQ:AAPL) is Osborne Partners Capital Management LLC’s 2nd Largest Position

Osborne Partners Capital Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 3.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 276,798 shares of the iPhone maker’s stock after selling 9,738 shares during the period. Apple comprises approximately 3.7% of Osborne Partners Capital Management LLC’s portfolio, making the stock its 2nd largest position. Osborne Partners Capital Management LLC’s holdings in Apple were worth $64,494,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Bull Oak Capital LLC grew its holdings in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the period. Cordant Inc. raised its stake in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. acquired a new stake in shares of Apple in the second quarter valued at $206,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 1.1 %

NASDAQ:AAPL opened at $258.20 on Thursday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $258.21. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock’s 50 day simple moving average is $235.93 and its 200-day simple moving average is $226.77. The firm has a market cap of $3.90 trillion, a P/E ratio of 42.47, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the company posted $1.46 EPS. Apple’s revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s payout ratio is currently 16.45%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. UBS Group restated a “neutral” rating and set a $236.00 price target on shares of Apple in a report on Monday, December 2nd. Evercore ISI restated a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a report on Friday, October 25th. Finally, Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and boosted their target price for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $236.78.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.